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TRIG buys Irish onshore windfarm for 72m
The Renewables Infrastructure Group (TRIG) on Thursday said had bought the 41.2 megawatt Irish Clahane wind farm and its 13.8mw extension for 72m.
The project is located in County Kerry and is made up of 20 turbines with another six from the extension due to come on stream in the third quarter of 2018. It benefits from 15-year upward-only, inflation-linked feed-in tariff revenues, with six years remaining on the main windfarm.
The purchase prices includes construction spending to the turbine manufacturer, together with an element of deferred consideration to the vendor contingent on the completion of certain critical construction milestones for the Clahane extension, TRIG said.
Investment has been financed using TRIG's revolving acquisition facility and the project has no third-party project debt.